Lexington Realty Trust to redeem 8.05% series B preferreds on May 31

By Tali David

Minneapolis, April 30 - Lexington Realty Trust plans to redeem all 2,740,874 outstanding shares of its 8.05% series B cumulative redeemable preferred stock on May 31, the company announced in a press release.

The preferreds will be redeemed at $25.00 each plus $0.335417 of accumulated dividends for a total of $69,441,185.73.

Lexington Realty is a New York-based real estate investment trust that acquires, owns and manages a portfolio of office, industrial and retail properties net-leased to corporate tenants.

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